|16 May, 2019

Islamic Arab insurance company (SALAMA) reports nine per cent growth in Q1 2019 profit

Gross written premium increased by 25 per cent to Dh358m in Q1 2019

Mr Mustafa Kheriba

Mr Mustafa Kheriba

  • Net profit increased by nine per cent to Dh18m in Q1 2019

Islamic Arab Insurance Company (“SALAMA”), one of the UAE’s largest Takaful solutions providers, has reported 25 per cent growth in gross contribution, attributing to a total of Dh358m in gross contribution for Q1 2019 versus Dh286m in Q1 2018.

Listed on the Dubai Financial Market and entering its fortieth year of operation, SALAMA’s Net Profit reached Dh18m, marking an increase of 9 per cent compared to Dh16.5m for the same period last year.

Commenting on the results, SALAMA’s Managing Director, Mr. Mustafa Kheriba, said, “SALAMA has been prudent with its performance and effective in its distribution strategies, with a key focus on service offering and customer experience. We are off to a good start in 2019 and are confident we will continue the growth momentum, as we keep our commitment to innovation, strong leadership and operational excellence.”

Mr. Kheriba added, “SALAMA is poised to facilitate Takaful growth and expansion in the region, providing sustainable solutions that adhere to the highest ethical standards. We prudently manage risk and keep strong underwriting controls and checks to ensure our customers enjoys peace of mind at a fair price.”

SALAMA serves individual customers and institutions in the UAE, Saudi Arabia, Egypt, Jordan, Algeria and Senegal through its extensive network of subsidiaries and associates. The company offers a comprehensive range of family, motor, general and health Takaful solutions.

For more information, please contact Sadia Noori at SALAMA:
sadia.noori@salamalife.ae  or
+971557063683   

About SALAMA Islamic Arab Insurance Company
SALAMA Islamic Arab Insurance Company is one of the world’s largest and longest-established Shari’ah compliant Takaful solutions providers listed on the Dubai Financial Market, with paid-up capital of Dh1.21bn. SALAMA has been a pioneer in the Takaful industry from its incorporation in 1979 to the present day.

SALAMA’s stability and success can be attributed to its customer-centric approach, keeping clients and partners at the heart of the business, and its commitment to its core values and principles. SALAMA continues to design and develop solutions that meet the ever-changing demand of customers. Today, SALAMA is recognised for providing the most competitive and diverse range of Takaful solutions in the region.

SALAMA serves individual customers and institutions in the UAE and, through its extensive network of subsidiaries and associates, the Kingdom of Saudi Arabia, Egypt, Jordan, Algeria and Senegal.

As the UAE’s leading Takaful company, SALAMA offers a comprehensive range of family, motor, general and health Takaful solutions. Due to its reputation for high-quality products and services and implementation of Takaful best practice, SALAMA won the Family Takaful Company of the Year award at the Middle East Insurance Awards in 2015 and the Best Family Takaful Operator – ME at the Islamic Banking and Finance Awards in 2016, as well as other accolades from respected industry bodies.

SALAMA continues to be the preferred Takaful partner by its partners and customers, remaining committed to ‘Securing our future – together.’

© Press Release 2019

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